29th Nov 2007 14:17
Ark Therapeutics Group PLC29 November 2007 Date: 29 November 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO ORFROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULDNOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN THIS ANNOUNCEMENT EXCEPTON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY ARK THERAPEUTICSGROUP PLC ON 6TH NOVEMBER 2007 IN CONNECTION WITH THE PROPOSED PLACING AND OPENOFFER (THE "PROSPECTUS") Ark Therapeutics Group plc Result of Extraordinary General Meeting Ark Therapeutics Group plc (LSE: AKT) ("Ark" or the "Company") announces that atthe Extraordinary General Meeting of the Company held earlier today, theResolution put to Shareholders was duly passed, approving the increase to theauthorised share capital of the Company and authorising the directors to allotshares, inter alia, pursuant to the Placing and Open Offer announced on 6November 2007 (the "Placing and Open Offer"). The results of the proxy votes received in advance of the meeting are reportedbelow: For Discretion Against Withheld Votes % Votes % Votes % Votes 122,999,033 99.75 179,495 0.15 118,032 0.10 240,167 % of votes cast excludes withheld votes. The total number of shares in issue at the close of voting was 166,302,680. The Placing and Open Offer remains conditional upon, inter alia, admission ofthe New Ordinary Shares to the Official List and to trading on the London StockExchange's market for listed securities. Application has been made to the FSAfor the New Ordinary Shares to be admitted to the Official List and to theLondon Stock Exchange for the New Ordinary Shares to be admitted to trading onthe London Stock Exchange's market for listed securities. It is expected thatAdmission will become effective and dealings in the New Ordinary Shares willcommence at 8.00 a.m. on 30 November 2007. Terms defined in the Company's prospectus relating to the Placing and Open Offerdated 6 November 2007 (the "Prospectus") have the same meaning in thisannouncement. A copy of the Prospectus has been submitted to the UKLA, and isavailable for inspection at the Document Viewing Facility, which is situated at:Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E145HS, Tel no: 020 7676 1000. - ends - Enquiries: Ark Therapeutics Group plc Tel: 020 7388 7722Dr. Nigel Parker, Chief Executive OfficerMartyn Williams, Chief Financial Officer Piper Jaffray Ltd. Tel: 020 3142 8700David RasoulyJamie AdamsWill Carnwath Credit Suisse Securities (Europe) Limited Tel: 020 7888 8888Andrew ChristiePeter Hyde Financial Dynamics Tel: 020 7831 3113David Yates Piper Jaffray Ltd., which is authorised and regulated in the United Kingdom bythe Financial Services Authority and is a member of the London Stock Exchange,is acting for the Company and no-one else in connection with the Placing andOpen Offer and will not be responsible to anyone other than the Company forproviding the protections afforded to its customers or for providing advice inrelation to the Placing and Open Offer or any other matter referred to herein. Credit Suisse Securities (Europe) Limited which is authorised and regulated inthe United Kingdom by the Financial Services Authority and is a member of theLondon Stock Exchange, is acting for the Company and no-one else in connectionwith the Placing and Open Offer and will not be responsible to anyone other thanthe Company for providing the protections afforded to its customers or forproviding advice in relation to the Placing and Open Offer or for any othermatter referred to herein. This announcement has been issued by Ark Therapeutics Group plc and is the soleresponsibility of Ark Therapeutics Group plc. This announcement does notconstitute, or form part of, an offer or solicitation of an offer, to purchaseor subscribe for, underwrite or otherwise acquire, any rights, shares or othersecurities. Ark Therapeutics Group plc Ark Therapeutics Group plc is a specialist healthcare group (the "Group")addressing high value areas of unmet medical need within vascular disease, woundcare and cancer. These are large and growing markets, where opportunities existfor effective new products to generate significant revenues. With three marketeddevices, Kerraboot(R), Kerraped(R) and Flaminal(R), and three further leadpharmaceutical products in late stage clinical development: Cerepro(R), VitorTM,and Trinam(R), the Group is transitioning from an R&D company to a commercial,revenue generating business. Ark's own products are sourced from related but largely non-dependenttechnologies within the Group and have been selected to enable them to be takenthrough development within the Group's own means and to benefit from Orphan DrugStatus and/or Fast Track Designation, as appropriate. This strategy has allowedthe Group to retain greater value and greater control of clinical developmenttimelines, and to mitigate the risks of dependency on any one particularprogramme or development partner. Ark has secured patents or has patentapplications pending for all its lead products in principal pharmaceuticalmarkets. Ark has its origins in businesses established in the mid-1990s by Professor JohnMartin and Mr Stephen Barker of University College London and Professor SeppoYla-Herttuala of the AI Virtanen Institute at the University of Kuopio, Finland,all of whom play leading roles in the Company's research and developmentprogrammes. Ark's shares were first listed on the London Stock Exchange in March 2004(AKT.L). This announcement includes "forward-looking statements" which include allstatements other than statements of historical facts, including, withoutlimitation, those regarding the Group's financial position, business strategy,plans and objectives of management for future operations (including developmentplans and objectives relating to the Group's products and services), and anystatements preceded by, followed by or that include forward-looking terminologysuch as the words "targets", "believes", "estimates", "expects", "aims","intends", "will", "can", "may", "anticipates", "would", "should", "could" orsimilar expressions or the negative thereof. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other important factorsbeyond the Group's control that could cause the actual results, performance orachievements of the Group to be materially different from future results,performance or achievements expressed or implied by such forward-lookingstatements. Such forward-looking statements are based on numerous assumptionsregarding the Group's present and future business strategies and the environmentin which the Group will operate in the future. Among the important factors thatcould cause the Group's actual results, performance or achievements to differmaterially from those in forward-looking statements include those relating toArk's funding requirements, regulatory approvals, clinical trials, reliance onthird parties, intellectual property, key personnel and other factors. Theseforward-looking statements speak only as at the date of this announcement. TheGroup expressly disclaims any obligation or undertaking to disseminate anyupdates or revisions to any forward-looking statements contained in thisannouncement to reflect any change in the Group's expectations with regardthereto or any change in events, conditions or circumstances on which any suchstatements are based. As a result of these factors, readers are cautioned not torely on any forward-looking statement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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